Hungarian central bank keeps base rate unchanged at 0.9pc as expected

BUDAPEST: Hungary's central bank left its main interest rates unchanged at record lows on Tuesday, as expected, holding onto its set of unconventional tools aimed at curbing long-term interest rates.

The bank kept its base rate at 0.9 percent, and the overnight deposit rate at -0.15 percent.

The National Bank of Hungary, Central Europe's most dovish central bank, started buying mortgage bonds earlier this year. It also launched new interest rate swaps for banks with the aim of curbing yields on longer-dated bonds.